Crypto-Payments Startup Ramp Nets $ 52.7 Million


Crypto payments infrastructure startup Ramp has entered into a Series A funding deal led by Balderton Capital, with participation from existing backers NFX, Galaxy Digital, Seedcamp, Firstminute Capital and angel investors, the co-founder of Wise, Taavet Hinrikus and Francesco Simoneschi from TrueLayer.

The roundtable led to the appointment of Balderton general partner Rana Yared to Ramp’s board of directors, according to multiple media reports, Tuesday (December 15th). Yared said that Ramp allows new audiences to buy digital assets as easily as buying US dollars.

Ramp allows its partner brands to offer crypto services and said it only takes a few hours for developers to integrate their decentralized applications, or DApps, with its software. The company has regulatory approvals in the US, UK and Poland, and works with more than 40 partners.

See Also: Trulioo Digital Identity Network Increases List of Crypto Firms With GMO Trust and Centbee

Based in Warsaw, Poland and London, Ramp has seen its monthly transaction volumes increase 30 times over the past 12 months. The company was expected to reach $ 30 million at a valuation of $ 300 million, according to sources. But a spokesperson for Ramp said more funding had been sought in earlier negotiations. The valuation of the company at that time was not disclosed.

Founded in 2017, Ramp promotes itself as the ‘PayPal for Crypto’ and offers a non-custodial payment infrastructure that makes it easier for markets and wallets to purchase cryptocurrencies and other digital assets.

Read more: Circle Launches USDC on Avalanche to Push DeFi

Ramp’s Series A follows its $ 9 million funding round in June.

Szymon Sypniewicz, co-founder and CEO of Ramp, said the company is aiming for partnerships with mainstream tech companies like Mozilla and Opera, NFT and gaming platforms like Sorare and Axie Infinity, and crypto platforms.

“More broadly, the market opportunity for us is really with the advent of web3 – and we are looking for partnerships, products and collaborations that will play a role in the widespread adoption of decentralized applications,” he said. he adds.

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